Fin24.com | Top 5 on Fin24: Slight uptick in petrol price, Gautrain strike set to continue and Eskom warns of constrained power supply

Cape Town – A roundup of Monday‘s top economic and finance reads on Fin24.

Slight uptick in petrol price for August

Cheaper international oil prices have slammed the brakes on significant increases in fuel prices for August.

The Department of Energy announced on Monday that the price of both grades of petrol would increase by 1c a litre from Wednesday.

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VBS: SA‘s biggest bank heist leaves trail of destruction

South Africa’s biggest bank heist took place without a single shot being fired.

Thieves armed with explosives and assault rifles attacked dozens of armored vehicles delivering cash to the country’s lenders last year, stealing hundreds of millions of rand.

They’ve allegedly been outdone by five bankers accused of siphoning off at least R1.5bn from VBS Mutual Bank.

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‘Train smash‘ for commuters as Gautrain strike set to continue

The United National Transport Union (UNTU) denied on Monday that buses were prevented from leaving the Gautrain depot in Midrand during their protected strike, and vowed that strike action would continue until workers‘ demands were taken seriously.

The UNTU embarked on a strike on Monday morning, demanding a 10% wage increase and other incentives from the Bombela Operating Company (BOC), which runs the Gautrain.

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Eskom warns of load shedding, constrained power supply

For the first time since late June, power utility Eskom has warned of a constrained power supply.

In the past, Eskom put out similar warnings ahead of rotational load shedding.

South Africa experienced several days of load shedding in mid-June. At the time, Eskom blamed the power outages on acts of intimidation and sabotage by workers who were locked in wage negotiations. Unions denied they were involved, however.

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Fate of South African gold rests on one giant, loss-making mine

Three thousand metres below the plains southwest of Johannesburg, teams of miners are toiling to revive the gold industry that underpinned South Africa’s economy for generations.

The South Deep mine was built to target the world’s second-biggest known body of gold-bearing ore, a deposit that could produce for the next 70 years and slow the steady decline in the country’s production. Trouble is, the mine’s not making any money for owner Gold Fields [].